Abu Dhabi: ICT Fund, which works under the realm of Telecom Regulatory Authority (TRA) has invested more than Dh1.6 billion in the last six years in various projects in information and communications technology sector including in education and space technology.
Abu Dhabi based federal body said that the rate of investment has increased exponentially as the sector has been growing. “We have seen 171 per cent increase in the investment in the last two years. Our investment is primarily driven by ICT strategy of the UAE government,” said Omar Al Mahmoud, CEO of ICT fund while speaking to reporters on the sidelines of Abu Dhabi Media summit.
He said the fund is being used in setting up a number of projects including smart government initiatives, research and development and building a national telescope and space technology.
“Our goal is to build a knowledge based society. UAE has moved beyond oil and gas sector to service sector. We have a small population and can be easily connected with technology.”
The fund established in 2007 has been working to strengthen the UAE ICT sector including nurturing incubators, supporting research and development projects, educational institutions and providing scholarships for the development of the sector.
“We are converting into a smart based society, smart based initiatives. We have teachers and students utilising latest technology in educational systems.”
He said one per cent of the telecom operators revenue is paid towards ICT fund.
